Accounting Policies of Omkar Pharmachem Ltd. Company

i) The accounts have been prepared on the basis of historical cost and
in accordance with mandatory accounting standards.

ii) All Incomes and Expenditures are accounted for on mercantile basis.

b) Fixed Assets and Depreciation :

i) Fixed assets are stated at cost.

ii) The company has no depreciable Fixed Assets.

c) Trade Payables/Receivables and Loans and Advances :

Trade Payables/Receivables and Loans and Advances are stated without
making provision for doubtful balances. They all are subject to the
confirmation of the parties.

d) Investments:

Investments are classified as non-current investments and are stated at
cost.

e) Deferred Tax :

So far as Accounting Standard 22 (As-22) on Accounting for Taxes on
income is concerned, deferred tax asset in respect of its brought
forward losses are not recognized as the company does not fore see to
have profit to absorb the said carried forward loss in near future.

f) Revenue from Operations :

Revenue from Operations is recognised when bill is raised.

g) Expenses:

Expenses are recorded for on accrual basis and provision is made for
all known losses and liabilities.

h) Remuneration and Sitting Fees to Directors :

No remuneration and sitting fees are paid to the directors.

I) Earning per Share :

Basic Earnings Per Share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period. For the
purpose of calculating diluted earnings per share, the net profit or
loss for the period attributable to equity shareholders and the
weighted average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity share.

(a) The amount used as the numerator in calculating basic and diluted
earnings per shares the net profit (Loss) for the year disclosed in the
statement of profit and loss.

(b) The weighted average number of equity shares used as denominator in
calculating both basic and diluted earnings per share is 10083675.

j) Cash and Cash Equivalents :

Cash and cash equivalents for the purpose of cash flow statement
comprise cash at bank and in hand.

k) Segment Information as per accounting standard 17 :

Segment Reporting as defined in Accounting Standard 17 is not
applicable since compnay has no segments.

l) Foreign Currency Transactions :

No Foreign Currency Transactions were entered by the Company during the
previous year.

m) Related Party Disclosure:

Related Party Disclosure as required by Accounting Standard -18 is as
under:

1. Key Management Personnel and their relatives : None

2. Key Management Personnel and/or their relatives have

significant influence over the following enterprises : None

3. No transactions were carried out with the related parties in the
ordinary course of business.

n) Previous Year's Data :

Previous Year's Data is regrouped/rearranged whenever necessary.

Mar 31, 2013

A) Expenses:

Expenses are recorded for on accrual basis and provision is made for
all known losses and liabilities.

b) Remuneration and Sitting Fees to Directors :

No remuneration and sitting fees are paid to the directors.

c) Earning per Share :

Basic Earnings Per Share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period. For the
purpose of calculating diluted earnings per share, the net profit or
loss for the period attributable to equity sharehold- ers and the
weighted average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity share.

(a) The amount used as the numerator in calculating basic and diluted
earnings per shares the net profit (Loss) for the year disclosed in the
statement of profit and loss.

(b) The weighted average number of equity shares used as denominator in
calculating both basic and diluted earnings per share is 10083675

d) Cash and Cash Equivalents :

Cash and cash equivalents for the purpose of cash flow statement
comprise cash at bank and in hand and short term investments with an
original maturity of three months or less.

e) Segment Information as per accounting standard 17 :

Segment Reporting as defined in Accounting Standard 17 is not
applicable since compnay has no segments.

f) Foreign Currency Transactions :

No Foreign Currency Transactions were entered by the Company during the
previous year.

Mar 31, 2012

A) General :

i) The accounts have been prepared on the basis of historical cost and
in accordance with mandatory accounting standards

ii) All Incomes and Expenditures are accounted for on mercantile basis.

b) Fixed Assets and Depreciation :

i) Fixed assets are stated at written down value after deducting
depreciation to date from cost.

ii) Depreciation on Fixed Assets is provided on written down method
with reference to month of addition/ deletion of respective assets at
rate specified in Schedule XIV to The Companies Act, 1956.

c) Trade Payables/Receivables and Loans and Advances :

Trade Payables/Receivables and Loans and Advances are stated without
making provision for doubtful balances. They all are subject to the
confirmation of the parties.

d) Investments:

Investments are classified as non-current investments and are stated at
cost.

e) Deferred Tax :

So far as Accounting Standard 22 (As-22) on Accounting for Taxes on
income is concerned, deferred tax asset in respect of its brought
forward losses are not recognized as the company does not fore see to
have profit to absorb the said carried forward loss in near future.

f) Revenue from Operations :

Revenue from Operations is recognised when goods are supplied. It does
not include VAT and Frieght charged in invoices.

g) Expenses:

Expenses are recorded for on accrual basis and provision is made for
all known losses and liabilities.

h) Remuneration and Sitting Fees to Directors :

No remuneration and sitting fees are paid to the directors.

i) Earning per Share :

Basic Earnings Per Share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period. For the
purpose of calculating diluted earnings per share, the net profit or
loss for the period attributable to equity shareholders and the
weighted average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity share.

(a) The amount used as the numerator in calculating basic and diluted
earnings per shares the net profit (Loss) for the year disclosed in the
statement of profit and loss.

(b) The weighted average number of equity shares used as denominator in
calculating both basic and diluted earnings per share is 10083675

j) Cash and Cash Equivalents :

Cash and cash equivalents for the purpose of cash flow statement
comprise cash at bank and in hand and short term investments with an
original maturity of three months or less.

Mar 31, 2010

A) General :

i) The accounts have been prepared on the basis of historical cost and
in accordance with mandatory accounting standards.

ii) All Incomes & Expenditure are accounted for on mercantile basis.

b) Fixed Assets & Depreciation :

i) Fixed assets are stated at cost net of modvat/cenvet and includes
taxes, freight and other incidental expenses incurred in relation to
acquition and installation of the same.

c) Sundry Debtors & Loans and Advances :

Sundry Debtors & Loans and Advances are stated after making adequate
provision for doubtful balances.

d) Expenditure:

Expenses are recorded for on accrual basis and provision is made for
all known losses and liabilities.

e) Deffered Revenue Expenses :

Preliminary expenses are being amortised over a period often years.

Mar 31, 2009

A) General

i) The accounts have been prepared on the basis of historical cost and
in accordance with mandatory accounting standards.

ii) All Incomes & Expenditure are accounted for on mercantile basis.

b) Fixed Assets & Depreciation

i) Fixed assets are stated at cost net of modvat/cenvet and includes
taxes, freight and other incidental expenses incurred in relation to
acquition and installation of the same.

c) Sundry Debtors & Loans and Advances

Sundry Debtors & Loans and Advances are stated after making adequate
provision for doubtful balances.

d) Expenditure

Expenses are recorded for on accrual basis and provision is made for
all known losses and liabilities.

e) Deffered Revenue Expenses

Preliminary expenses are being amortised over a period of ten years,.

Mar 31, 2003

A) General

i) The Accounts have been prepared on the basis of historical cost and
in accordance with mandatory accounting standards.

ii) All Expenses and Income are accounted for on mercantile basis.

b) Fixed Assets and Depreciation

Fixed assets are stated at cost net of modvat/cenvat and includes
taxes, freight and other incidental expenses incurred in relation to
acquisition and installation of the same.

c) Sundry Debtors and Loans and Advances

Sundry Debtors and Loans and Advances are stated after making adequate
provisions for doubtful balances.

d) Expenditure

Expenses are recorded for on accrual basis and provision is made for
all known losses and liabilities.

e) Deferred Revenue Expenses

Preliminary and share issue expenses are being amortized over a period
of ten years.

Mar 31, 2002

A) General

i) The Accounts have been prepared on the basis of historical cost and
in accordance with mandatory accounting standards.

ii) All Expenses and Income are accounted for on mercantile basis

b) Fixed Assets and Depreciation

i) Fixed assets are stated at cost net of modvat / cenvat and includes
taxes, freight and other incidental expenses incurred in relation to
acquisition and installation of the same.

ii) Depreciation on fixed assets is provided on written down method
with refrence to month of addition / deletion of respective assets at
rate speci- fied in Schedule XIV to the Companies, Act, 1956.

c) Sundry Debtors and Loans and Advances

Sundry Debtors and Loans and Advaces are stated after making adequate
provisions for doubtful balances.

d) Expenditure

Expenses are recorded for on accrual basis and provision is made for
all known lossess and liabilities.

e) Deferred Revenue Expenses

Preliminary and share issue expenses are being amortized over a period
of ten years.